Comments on: Bush, Saudis Clash Over Oil Prices

Saudi Oil Minister Rebuffs President's Plea To OPEC Giant For Oil Production Increase

[formrusmcsgt]

I want to know why dubya is not assailing Saudi support for AlQaeda and sending the lion''s share of insurgents to Iraq.

[hypnotoad72]

Another thought; what would it take to reverse the dollar''s freefall?

[j-whitman]

What else is Bush doing for the Arabs that sent us 9/11 ??? --- Selling them Citibank because China doesn''t want it.

[dscott407]

And you as well ..AJMarine1

dscott407

[ajmarine1]

Posted by dscott407 at 07:57 PM : Jan 15, 2008


Live Long and Prosper dscott.

[ajmarine1]

Give me a break, this was ALL engineered.


Posted by CANYOUTELLME at 07:52 PM : Jan 15, 2008



Until now, the high-water mark for oil prices has been April 1980. That''s when Iran threatened to cut off oil supplies in the wake of a failed military raid aimed at rescuing Americans held hostage in Tehran.

The price of West Texas Intermediate crude oil hit $39.50 that month. Adjusting for inflation, that''s about $99 in today''s dollars.

It has taken more than a quarter-century, but oil prices are once again approaching that level. And once again, saber-rattling between the U.S. and Iran is a significant factor.

"The current high prices have a ''back to the future'' quality to them," says oil historian Dan Yergin, chairman of Cambridge Energy Research Associates.

He figures geopolitical tension in the Middle East adds a $10 or $15 "security premium" to every barrel of oil.


http://www.npr.org/templates/story/story.php?storyId=16219677


We have had problems with oil long before Bush.

[dscott407]

An oil shortage, it''''s like everything else on these sites, it depends on who you talk to.

Posted by AJMarine1

Perhaps Bro...

Best post of the night. Have a good evening.

[formrusmcsgt]

Paying more for gasoline hurts some of the American families, and I''ll make that clear to him," said Mr. Bush, heading into more talks with Saudi King Abdullah.
---
Interesting that dubya didn''t mention bringing up Saudi support for Al Qaeda.

He contends that we have a WOT going on, yet doesn''t appear to make any effort whatsoever to undercut Al Qaeda''s funding, most of which comes from Saudis.

Not only that, but Saudi''s make up about 40% of insurgents entering Iraq.

Why aren''t these issues addressed, dubya?

[canyoutellme-2009]

Can SOMEONE answer me a question? *IS THERE AN OIL SUPPLY SHORTAGE OUT THERE?"

Posted by CANYOUTELLME at 07:17 PM : Jan 15, 2008


India and China sucking up oil got anything to do with this?


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Posted by AJMarine1 at 07:31 PM : Jan 15, 2008
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The answer is... "yes... but very little". That should have bumped the price from $20 per barrel to maybe $23 or so per barrel. Their consumption didn''t go from 0 to 100 trillion barrels overnight. They''re on a steady increase and OPEC has accommodated nicely. The fact of the matter is, the BUSH WAR has caused speculators to act irrationally and causes them to JUMP when they get anything even remotely related to the word "oil" whether it affects things or not. THEN, after the reported event happens and passes, the price of oil does NOT RETREAT! This is being propped up... period. It''s no coincidence that 2 sectors remain STRONG in this economy while others falter... want to guess what those 2 sectors are? Here, let me spell ''em out for you

1) Defense sector - HALIBURTON - Cheney was the former chief... gee, no conflict of interest there

2) OIL - Bush, an oil man... yeah, no conflict of interest there

Give me a break, this was ALL engineered.

[ajmarine1]

Are we really running out of oil or not?

Posted by dscott407 at 07:40 PM : Jan 15, 2008

Who knows; Russia is putting out more oil everyday due to improved processing, they say with the land that is showing up do to the ice caps melting in the Artic countries are lining up to claim mineral rights there, and who knows how much oil is off the coast of the US that the EPA wants let us drill for.

An oil shortage, it''s like everything else on these sites, it depends on who you talk to.

[donbl1]

John, current production exceeds the pre-war production level and is still growing.

That problem you described is now behind them.

Yes, there are problems but not that one.

[johnshaft4]

Want more oil on the market? Then perhaps you should not have bombed Iraq to smithereens. You loused up the production of the country with 2nd largest oil reserves in the world. You, Bush are an abject failure and a disgrace to those of us in the oil & gas industry who play fair and square. Like everything else in your life, your Harken Energy and Spectrem 7 were losers. Bush, you and Cheney both could not find a quart of oil in a fillin'' station; nor a drop of oil under a car. That''s why you try to steal it. You are no oilman.

[hsinco-2009]

I think he is really there to beg the Saudis to stick with the $USD. And not go to the Euro until he leaves office.

[dscott407]

AJMarine...

Another good point. Also the Energy Task Force''s findings are classified aren''t they? Are we really running out of oil or not?

[ajmarine1]

Posted by dscott407 at 07:33 PM : Jan 15, 2008

Everytime someone kills someone in Kenya the price goes up also.

[dscott407]

Good point AJMarine...

A few more markets out there to drive up the price. Conflict doesn''t hurt either.

[ajmarine1]

Can SOMEONE answer me a question? *IS THERE AN OIL SUPPLY SHORTAGE OUT THERE?"

Posted by CANYOUTELLME at 07:17 PM : Jan 15, 2008


India and China sucking up oil got anything to do with this?

[dscott407]

CANYOUTELLME...

I don''t think that''s an easy question to answer, but I think that you comments are right on. It almost seems like a game?

[donbl1]

All the Democratic cndidates advertising and sound bites on the economy being in bad shape starting last summer coincides with the start of the fall of the stock market.

It may not be cause and effect but the market is susceptible to bad press and politicians always say the economy is bad....... maybe she should have made the primaries in April 2008.....

[canyoutellme-2009]

Can SOMEONE answer me a question? *IS THERE AN OIL SUPPLY SHORTAGE OUT THERE?" .. the answer to this question is *NO*. The *ONLY* reason the price of oil is where it is now is due to Bush''s war on Terror in the middle east. This WAR caused SPECULATORS in the OIL Commodities market to bid up the price of oil! Every little news item about someone blowing up a small pipeline or another story about how Al Qaida was thinking about maybe perhaps disrupting oil supply etc.... THAT is why the price of oil went up, because of idiots playing the market. THAT IS IT. NO other reason. Tell me something geniuses who lick Bush''s shoes.... is the supply of oil now WORSE, the same, or Better than it was right before Bush took office? The ANSWER is.... "THE SAME". There''s NO SHORTAGE AT ALL. The price per barrel should be back at $20. PERIOD. Why should OPEC flood the market with oil that is not needed yet? They''re doing the RIGHT thing by not pulling it out of the ground until it''s needed.